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Don’t Care About the Failing Auto Industry? You Should.
An ominous sign of collapse
I went to a local Hyundai dealership today. They had one new car for sale. One.
The giant lot looked like a post-apocalyptic wasteland. For a moment, I worried the dealer had gone out of business. Even my ride noted there was something very unsettling about the emptiness.
A handful of used cars were displayed in the showroom. The dejected sales people watched one smartly-dressed buyer haggling over a car that was destined to become her grandchild’s graduation gift.
As I drove past other dealerships, I noticed the same depressing situation on lot after lot.
How did we get here
The decline in production can be blamed on the semiconductor chip shortage which has been exacerbated by increased consumer demand. The shortage is expected to persist thru 2023 affecting new cars, trucks, parts, and repairs.
This week, the Biden administration pushed a $52 billion CHIPS For America Act to…
